The Ford Foundation is a foundation whose mission is to improve human welfare. It was created in 1936 by Edsel Ford and his father Henry Ford, and was initially funded by a donation of $25,000 from Edsel Ford. After the death of the two founders, by 1947, the foundation owned 90% of Ford Motor Company’s non-voting shares. Between 1955 and 1970, the foundation sold its shares in Ford Motor Company, which now has no effect in the car company. Before selling his Ford Motor Company shares, Henry Ford II founded the Ford Motor Company Fund in 1949. This is an independent corporate foundation that is still the Ford Motor Company's charity and has nothing to do with the foundation. The Ford Foundation provides grants through its headquarters and ten international field offices. For many years, the financial donation of the foundation is the largest private donation in the world. It remains one of the richest countries too. The Ford Foundation provides a variety of employee benefits, such as a fixed-contribution pension plan, flexible spending accounts and health savings account options.
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